Iran to use reserve dollars to skirt fuel crisis-MP

[rodeodance]

Saturday July 22, 10:23 PM
Iran to use reserve dollars to skirt fuel crisis-MP

TEHRAN, July 22 (Reuters) - Iran's government will try to avoid rationing gasoline from Sept. 23 by seeking to dip into dollar reserves to pay for fuel imports, a member of parliament said on Saturday.

Parliament has cut the budget for gasoline imports in the year to March 2007, prompting the oil minister to say Tehran would have to stop buying in gasoline shipments and start petrol rationing on Sept 23.

Iran's final decision on how to cope with the budget cut is being keenly awaited by European and Asian gasoline traders who send a gasoline tanker to Iranian quaysides every two days.

Kamal Daneshyar, head of parliament's energy commission, said the government would submit a bill to parliament seeking $4 billion to $4.5 billion to pay for extra imports as a way of sidestepping rationing that could spark social discontent. .....

http://sg.biz.yahoo.com/060722/3/429ed.html

[sinogirl]

1. feeling the bite

crunch..!!